The company also sold more shares than expected — 13.4 million instead of 11.7 million.

At that price, the company will raise more than $160 million and will be valued at close to $680 million.

The IPO could kick off more investor interest in the enterprise collaboration space, where startups like Jive, Huddle, Box.net, and Yammer compete against established public companies like Salesforce and Microsoft.

The company started almost a decade ago making software for company message boards, but has since broadened into making a cloud-based collaboration service for employees.